a u g u s t / s e p t e m b e r 2 0 1 6
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Diamond drilling of the Thule mineral-
ized halo has returned encouraging results.
Hole S-24 averaged 0.7% copper over
319.73 metres with higher-grade zones
including 48.77 metres of 1.86% copper.
The hole ended in 0.25% copper. Highland
Valley averages below 0.3% copper.
Two zones exist around the former
Craigmont ore body with proven ore
grades – Body 3 and the Embayment.
There are several other zones exhibit-
ing surface copper mineralization which
Nicola plans to investigate. A recent
trenching program returned samples rang-
ing up to 1.86% copper. The Embayment,
WP, Titan Queen, Eric and Marb zones
will be the focus of the drilling program.
Part of the Craigmont operations were
underground and it is a bonus for Nicola
that the workings can be rehabilitated
which will enable company geologists to
examine copper mineralization in situ.
Lastly, Nicola also owns the Treasure
Mountain silver-lead zinc mine, currently
on care and maintenance, 27 km east of
Hope, BC near the Coquihalla Highway
that leads to the mill. The mine is a stand-
alone project with complete camp facilities
and related workshops, etc. The Treasure
Mountain Mine has four levels with total
vein indicated resources of 33,000 tonnes
averaging 828 g/t silver, 4.16% lead and
3.8% zinc, for 880,000 oz silver, 3.03 million
lbs lead and 2.76 million lbs zinc. Inferred
resources are 3.58 million oz silver, 7.37 mil-
lion oz lead and 11.54 million lbs zinc.
No work at the mine itself is planned
for 2016; however, some extremely high-
grade silver samples at the MB Zone on the
northern backside of the mountain nearby
will be followed up this summer.
An interesting sidebar is Nicola
Mining's plans to re-seed the old tailings
impoundment area. The idea is to acquire
unwanted salt-contaminated soil from
Vancouver area construction projects to
provide a layer on top of the tailings that
can support local flora.
Nicola Mining management has imple-
mented a sound business strategy whereby
exploration costs will be partially covered
by cash flow.
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